Shares of TV providers drop

The Globe and Mail Metro (Ontario Edition) - - Report On Business -

Signs that more peo­ple are drop­ping their tra­di­tional TV sub­scrip­tions are weigh­ing on TV providers’ stocks.

AT&T Inc. said on Wed­nes­day that it lost 90,000 video sub­scribers in the United States in the third quar­ter, a steeper drop than the same pe­riod last year. That in­cludes a gain of 300,000 cus­tomers in DirecTV Now, an on­line cable-like ser­vice that is cheaper than tra­di­tional TV. The tele­com com­pany blames tough com­pe­ti­tion, the im­pact from hur­ri­canes and stricter credit stan­dards for cus­tomers.

Ris­ing prices for tra­di­tional TV bun­dles and grow­ing dig­i­tal op­tions are driv­ing cus­tomers on­line and away from tra­di­tional TV.

Shares of cable com­pa­nies Com­cast and Char­ter and ri­val satel­lite TV provider Dish are also down. –

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